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NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION
A.P Sahi, President, Bharatkumar Pandya, Member
Cholamandalam Investment and Finance Co. Ltd. – Appellant
Versus
Smt. Savita – Respondent
| Table of Content |
|---|
| 1. introduction to the petition and nature of the appeal. (Para 1) |
| 2. details on the loan agreement, repossession, and initial judgments. (Para 2 , 4 , 5) |
| 3. discussion about the excessive compensation awarded and legal considerations. (Para 3 , 6 , 8) |
| 4. application of proportionality principles in determining compensation. (Para 7 , 9) |
| 5. conclusion and orders issued regarding the compensation claim. (Para 10) |
ORDER
PER HON'BLE MR. BHARATKUMAR PA ND YA. MEMBER
1. The present Petition has been filed by the Petitioner against the impugned order dated 03.02.2025 passed by the State Commission, Lucknow in FA. No 257 of 2023, whereby State Commission dismissed the first appeal of the petitioner. The brief facts of the case, as per the petitioner/appellant, are that respondent/complainant approached the appellant/OP-1&2 seeking financial assistance for the purchase of a truck. Appellant sanctioned a loan of Rs. 15,93,385/-. A formal loan agreement was executed wherein the respondent committed to repay the loan amount in 48 monthly installments of Rs.43,503/-. However, respondent defaulted in her repayment obligations, making only two installments on time while the majority of
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